Romania Feed

Romania’s Competition Council has authorized a transaction whereby Golden Foods Snacks, a producer of salty snacks, seeds, peanuts and dehydrated fruits, is acquiring the company Derpan Galati, a bakery and pastry producer founded by brothers Valentin and Emil Ancuta in 2001.

Romania’s beer market decreased by 4% in the first eight months of 2022 as compared to the same period in 2021, after the first four months had brought a 10% volume decrease, in line with data provided by the Romanian Brewers Association.

The TechAngels group of private investors, focused on supporting technology startups in Romania and the region, has invested in the development of local tech startups over EUR4.6 million in the first nine months of 2022, company representatives said in a statement.

Companies in Romania have over EUR2.5 billion at disposal for investments in green energy generation or energy efficiency improvement, the digitalization of operation of small and medium-sized enterprises (SMEs), recycling, manufacturing or SME retrofitting, in the coming months, during the busiest period for non-reimbursable funding since our country joined the EU in 2007.

UniCredit Bank has received from the Finance Ministry the allocations of loan guarantee ceilings for eligible companies under the IMM Invest Plus program intended for small and medium-sized enterprises (SME), which makes 2022 the third consecutive year that the bank has participated in this program.

Logistics and industrial space developer CTP has finalized the warehouse within the CTPark Bucharest North for online retailer Sezamo, part of Czech group Rohlik.

Law firm Filip & Company assisted Polish company Alsendo owned by Abris Capital Partners, a private equity investor specialized in ESG transformation, with the acquisition of a majority stake in Innoship, a local startup offering fast delivery solutions for companies in the retail and e-commerce industry.

Romania's annual inflation rate will continue to increase until the end of 2022, thus rising above the values ​​estimated for the short term in the latest medium-term forecast, according to the minutes of the Executive Board meeting of the country's central bank.

Governments around the world are at risk of failing citizens through lack of digitalization, according to the EY research presented in a new report: “How can government workers and technology align to serve future citizens?”.

LifeBox is focusing on the Bucharest market, where it’s launched a new business line, called LifeGo.

US-held Vanguard, one of the world's largest investment management firms with exposure through mutual funds such as ETFs, and with assets of about $8 trillion, bought 1.52% of real estate developer One United Properties (ONE.RO) shares via the Bucharest Stock Exchange, ZF has found from fund reports as of August 31, 2022.

OMV Petrom (SNP.RO), the only local oil and gas producer, has announced the completion of its share capital operation, which enabled it to raise RON446 million from investors, the company said in a report to the Bucharest Stock Exchange.

Romanian natural gas producer and supplier ROMGAZ (SNG.RO) on Wednesday (Oct 19) concluded a Memorandum of Understanding with SOCAR, the state-run oil company of the Republic of Azerbaijan, which sets the basis of a new cooperation between the two companies, Romgaz announced in a stock market report.

Only one additional project is expected to be completed by the end of the year, making 2022 the year with the lowest number of office buildings delivered over the last five years, according to CBRE Romania, the leader of the real estate consulting market.

Romania’s electronic commerce (ecommerce) market has continued to grow in 2022 mainly due to online buyers spending more money, as per a survey by iSense Solutions, which shows the market is expected to grow by 10% year-over-year and reach almost EUR6.8 billion at the end of 2022.

In August 2022, the volume of construction works rose, in unadjusted data, by 15.7% as compared to August 2021 and was up 15.6% when adjusted to the number of working days and to seasonality, data from the country’s statistics board INS showed on Wednesday (Oct 19).

Nestlé Romania, one of the largest companies on the local sweets, beverages and pet food market, saw a 11% increase in sales in the first nine months of 2022 due to a double-digit growth for seven out of ten categories of products among which Infant Nutrition, Pet Food, Nespresso, Nestlé Health Science and Coffee, stated Silvia Sticlea, Country Manager Nestlé Romania.

Euroins Romania, the largest insurer in the country after City Insurance went bankrupt, ended the second quarter with RON1.52 billion in gross written premiums, an increase of 110% year-on-year, while the non-auto liability (RCA) segment saw a RON95 million premium volume, an increase of 239% year-on-year.

FAN Courier, the leader of the courier services market in Romania, is investing over EUR10 million to develop the network of lockers countrywide through which the end customer will no longer depend on the courier’s daily schedule.

Law firm Schoenherr si Asociatii SCA assisted Eurobank with the sale of the Eliade Tower office building in Bucharest to real estate developer One United Properties.